Mumbai: Marketing is not as easy as people anticipate. It is a combination of many factors including projection, anticipation, good campaigning, research and development, analytics, and understanding the target audience. With new trends, Indiantelevision.com exclusively interacted with Srikant Rajesekharuni CEO and co-founder of RMT (Red Matter Technologies) integrated marketing agency. Here are excerpts -Interview of Srikant Rajasekharuni - CEO and Co-founder, RMT
Broader perspective on phenomenal growth –
In the past 8 years, our experience of working with over 300 brands reflects remarkable growth.Collaboratively adapting and learning from diverse sectors such as entertainment, FMCG, real estate, education, and healthcare, we have effectively tailored marketing strategies to align with new trends. This approach has allowed RMT to evolve in response to client needs and market dynamics. Our team’s ability to adapt, learn, and strategize has led to the successful implementation of tailor-made marketing strategies. This collaborative effort has established long-term relationships with clients, including national-level brands like ZEE5, The Economic Times, Monin Syrups, My Home Constructions, and Manipal Global Education.
Our strategic, innovative, and adaptive approach has contributed to our company’s growth. Moving forward, we aim to empower more brands and business owners by facilitating lasting and meaningful connections with their consumers.
On Pros and Cons of the 360-degree digital industry at large?
In the current market, the digital industry offers extensive opportunities and challenges. Pros include the vast reach and accessibility to a global audience, enabling precise targeting and personalised engagement. Digital platforms allow real-time analytics, facilitating data-driven decision-making and ROI assessment. However, saturation and competition pose challenges, requiring constant innovation to stand out. Rapid technological advancements demand adaptability and investment in emerging trends, which can be both a pro and a con. While it opens doors to novel approaches, it also necessitates ongoing learning and resource allocation. Overall, the digital industry offers immense growth potential but demands continual evolution to remain competitive and effective.
On working with B2C, B2B, and D2C brands –
In our experience with B2C, B2B, and D2C brands at RMT, we have grasped the need for distinct approaches tailored to each sector. Recognizing the diverse target audiences, we customize marketing plans to align with our client's specific business requirements. Adapting existing trends and strategies across sectors requires creativity, and our collaborative RMT team excels at learning, adapting, and implementing successful marketing campaigns. Beyond delivering results, it’s been fulfilling to contribute to building customer relationships and enhancing brand reputation. We look forward to expanding our collaborative approach across more sectors and further refining our industry strategies.
On ROI in current volatile market condition –
Given the current volatility in the market, assessing the overall profitability of the industry in terms of ROI is crucial. In response to market dynamics, the marketing industry must adapt to new business requirements and trends to distinguish itself. Companies in this sector can capitalize on the potential of digital marketing by remaining flexible, embracing change, and fostering innovation. Our RMT team prioritises the professional growth of its members through training, mentorship, and skill-building, ensuring that we stay ahead in industry knowledge and trends. This strategic and result-driven approach not only strengthens client relationships but also contributes to a high ROI.
On cost-cutting measures while considering ROI -
The focus on ROI is paramount in our approach. It ensures accountability and tangible value for our clients. While emphasizing ROI, we prioritize delivering impactful results without compromising on service quality. Cost-cutting measures should not compromise the efficacy or integrity of our services. Instead, we aim for efficiency gains through smart strategies and resource optimization. Our goal is to provide substantial value while ensuring that our clients receive a significant return on their investment in our services.
On digital campaign using AI invention -
Scaling AI in digital brand campaigns involves a client-centric strategy, assessing AI’s value in campaigns, and gradually adopting it in phases. Starting with smaller projects helps gauge effectiveness before expanding. Team training and staying updated on AI trends are crucial for optimal usage. Fostering a culture of collaboration and experimentation aids iterative improvements. Ultimately, it’s about aligning AI with business goals and evolving alongside market needs.
On spending on R & D -
Research and development is crucial in any business setting. I firmly advocate substantial investment in research and development (R&D). At RMT, we adopt a comprehensive approach, providing clients with insightful strategies, optimizing marketing campaigns and effectively reaching their target audience. I believe that research and insights extend beyond marketing, playing a crucial role in shaping overall business strategy. R&D is not only vital for marketing success but also instrumental in fostering competitiveness, addressing areas for improvement, and ensuring long-term growth and sustainability.
On new-age marketers addressing challenge -
In my opinion, new-age marketers are addressing the challenge of mixed reactions to marketing campaigns by emphasizing personalised and interactive engagement with their target audience. They prioritize researching and identifying their specific target demographic and leverage innovative technologies like AI to enhance customer interaction. Through personalized content on social media and customized messaging, they aim to capture the audience’s attention and foster a stronger connection with the brand or business. This approach not only attracts customers but also contributes to the success of digital marketing campaigns.
On idea and challenges behind starting consultancy –
In 2015, my friends and I started RMT in Hyderabad with the purpose of assisting small and medium businesses in their growth journey through effective digital transformation. Recognising the widespread desire among businesses to leverage social media and digital platforms for customer outreach, we established RMT to provide creative and innovative solutions to those lacking the expertise or resources to navigate these channels.
RMT was founded in response to a prevalent issue in the digital marketing industry: client’s dissatisfaction with inexperienced agencies and freelancers. These smaller outfits often lack depth in digital marketing, leading to subpar results and a misconception among clients that digital marketing isn’t effective for their business. This presents a challenge for RMT, as we invest heavily in quality talent and infrastructure and often need to re-educate clients about the true potential of digital marketing.
Another challenge arises from clients and employees who overestimate their understanding of digital marketing. Clients often believe they understand the field because they use social media, influencing their expectations and opinions on strategies that may not align with their target audience. Similarly, many individuals claim expertise after completing short-term courses, lacking the depth gained from practical experience. At RMT, we prioritise practical skills and experience over theoretical knowledge, ensuring a team capable of delivering high-quality, effective digital marketing solutions.
On using analytics for target audiences -
Analytics plays a crucial role in understanding market segments and effectively reaching the target audience. At RMT, we focus on key parameters such as demographics, age, and gender to identify the specific target audience for a business. This information is essential for devising a tailored marketing campaign that aligns with the business needs, ensuring a consistent and successful strategy.
To achieve this, we utilize various analytical tools. Website and app analytics provide insights into user demographics, interests, devices used, navigation patterns, and content engagement. This data optimization helps in creating a user-centric online presence.
Additionally, social media analytics reveal audience demographics, interests, conversations, and brand sentiment. This information guides the customization of social media strategies and content to resonate effectively with the target audience. Furthermore, the Customer Relationship Management (CRM) system holds valuable customer data, including purchase history and communication records.
Analysing such parameters and data aids in identifying loyal customers, predicting future purchases, and personalizing marketing efforts. The result is an optimised and well-planned advertising campaign that benefits both the business and customer relationships.
On balancing advertising campaign with quality -
Absolutely, effective brand promotion of quality products plays a pivotal role in boosting sales. While having a quality product is essential, effectively showcasing its features, benefits, and unique value proposition through strategic brand promotion can significantly impact sales and customer engagement. Advertising helps in creating awareness and visibility for quality products. It allows brands to communicate their story, build credibility, and differentiate themselves from competitors. Through social media or other marketing channels, businesses can highlight the attributes that make their products stand out, thereby attracting potential customers and driving sales.
RMT goal anticipation for the next 5 years -
RMT navigated a landscape marked by economic uncertainties and a focus on profitability, leading to reduced media spending and a shift from traditional to digital marketing. This trend, driven by digital marketing’s targeted efficiency, provided RMT with the opportunity to on board new clients transitioning to digital channels. Embracing this shift, we effectively guided these clients through their digital transformation, showcasing our adaptability and expertise in the evolving market.
Simultaneously, the integration of AI into marketing has revolutionized our industry, particularly in content generation, strategy, and research. This technological leap has accelerated processes, allowing a greater focus on creative aspects. RMT has been at the forefront of utilizing AI to enhance our services and deliver superior results.
Looking ahead, we plan to continue this momentum by forming strategic partnerships with specialized agencies in creative design, performance marketing, and video production. This collaborative approach aims to offer more integrated solutions, ensuring mutual growth and success while staying true to our values of integrity, creativity, and client-centric service.
